Scaling up Facebook ads

Hi all,

I am running facebook campaign for my shopify dropshipping store and I got around 20 conversions on main campaign and 7 conversions on retargeting campaign which is fine, my budget at the moment is around 120 USD for main campaign and 50 USD for retargeting.

I feel that it is time to scale up and go all in but I am not sure how much to increase. Any advice?

Also how many website purchases do I need to create solid look a like audience 500 or 1000?

When i created audience for retargeting I chose all visitors in last 30 days, should I update this audience every week or it happens automatically?

Thanks.

Based on my experience (over 100k spent on facebook ads), it's best to duplicate your current ad and increase the new one by 20%. If you increase your current one by more than 20%, it will often cause the adset to re-optimize and could potentially ruin it your conversion rate.